Already on famitsu thread but all they care about is MH3, here is the interview translated by Yuna10 at gamefaqs:

Cant link to GameFaqs since they link to a scan.

Originally Posted by Yuna10

Q: We are summoned to the level 5 studio today, does that means there are going to be any news on the White Knight game?
Aki: Yes ,we are finally close to the stage of completing it, first of all we want to report that, the release date is going to be 25/12

Q: Wow,December, that's very soon!
Aki :Yes it is

Q: Does that means you guys have finished the task on your hand then?
Aki : actually we are just close to it, we are still working very hard on the game at the moment.

Q: Hahaha I see
Aki : For such a long developing time ,we have finally begin to see the end of the product, all
the staff are very excited and we are going to work harder for the final round.

Q: I see, when I first saw the game, I was impressed by the Gigantic monsters, it is very impressive, and very beautiful at the same time. And there are some very unique and freaky looking monsters too ,I was thinking the staff must have spent a lot of times into developing the game.
Aki: As of today ,I was involved in a lot of RPG projects. I have learn to implement the crucial RPG elements into the game, however we are creating an epic level of RPG ,and we have to include all the elements and also because of the other reasons, we had to spend a lot of times into creating it. The hardware capability of PS3, to enhance the game to an epic standard, and theres another reason too ( He did not mention it here) ,the project have been created of the 3 factors . To the players it certain looks magnificent, but the game has brought headaches to the staff ,because this is the biggest game we [Level 5] have ever been created. To be able to work with SCE , I feel really nice and happy about it

Q:I notice some ' key ' words there, i will ask about it later hehe,as related with the storyline, is there anything that we do not know yet and have not been mentioned ?
Aki : The henshin(Transformation), World setting ,storyline has not been changed , White Knight 's story center around the fantasies and royalty ,as we spoke of royalty, it is the hero to save the princess from the evil, fighting the evil to save the beloved princess ...:

Q:I see ,so its based around the fantasy setting ,some of the characters looks really charming to us too
Aki: If you said its charming, it actually looks kind of unique and weird too .We took a long time to decide the character designs just to match the world setting . We understand that the characters play a very important role in game, after the DQ series. We have really thought about the character design ,and we had got lost in direction before during the process of creating it. Even just the structure of the world setting is consuming a large amount of efforts from the staff . And to make a good game , you need to have interesting cutscenes and settings, and I think we have added way too much ( laugh ) ,that's why its an uphill task for us.

Q:Sounds really hard for you guys ( laugh )
Aki:The story setting is on the massive level, every single thing took a long time to create, but this is why this game will remain unique in the future for quite a long time , I dont think there will be much game that will be able to surpass it .

Q:What is the title of the game ? Has it been decided?
Aki: Yes,it will be call ' WKC : Wave of the Ancient '

Q:What does 'Wave of the Ancient ' means?
Aki:WKC actually revolve around a tragedy, the event begins because of something that happened in the ancient time . Although it happened in the past, it affects the current time where the protagonist is living in. Therefore what happened in the ancient time is going to be awaken in the current time again ,looking from the title it give people an impression of a beginning of an epic adventure .I hope the players will be thinking ' I wish there will be next episodes'...

Q:That is a lot of hidden messaging coming in..i can feel that (laugh), going to show any playable demo on October TGS?
Aki: We are still deciding about that ,we will let the public experience the game for sure, but as in what kind of format ,we are still deciding, please stay tune with us

Q: Sounds like you already have the whole game within your plan, getting really anticipating about it. Back to the point, you mention about other 'factors' that is going to surprise people, can we know what is it?
Aki : I feel that the age of the RPG is already changed, there are a lot of genre of games on the market , the games where you could only sit back and watch how the story unfold silently has already been a past ...

Q:Theres indeed quite some changes ..
Aki: That's why we have added in a lot of elements where the players will be enjoying. WKC is an Epic RPG title,but we have added in some element from the recent game, therefore it will become a very interesting game packed with MAJOR interesting game features.

Q: So there conclusion is, the game is not just about sitting back to see the story, there's another face behind the game ,with a different play style? Is this right?
Aki: that's right, WKC has Interesting elements that are not found in the current RPGs, we are unable to reveal it now, but this is not a game where you could just put yourself into adventure ,it is way more than that.

Q:Not just an adventuring game? What do you mean?
Aki: We can't tell too much right now ,but it is something only the PLAYSTATION 3 Can have.

Q:Thats getting really exciting, when can you tell us about it?
Aki:hopefully in the near future.

Q: I understand, the players have been waiting for so so long,there hasn't been news for a year, please say something to the players
Aki : We spent 3 whole years into making this game ,Although an epic title on ps3 consumes a ton of time,but because of that ,we have developed an AAA Epic title, that is so rich and so massive .Because we spent that much of time, we want players to enjoy a title that worths all the waitwhile. All of our staff have already began our final rush, please stay tune for the game !

Posted my feelings earlier but here ya go for dedicated thread:
Level 5 plays to the criterias I value the strongest. Seamless expansive worlds with incredible visuals running without a hitch, adaptive real time combat functional both in sp/mp, combat with non-comparable visual feedback. Level 5 games & FFXII were the best last gen, they got it (though the latter needed to load every 100m but the combat was incredible). The only thing lacking so far has been online/mp and I strongly hope that's the secret element here as it would just be perfect (the only console 'rpgs' supporting online this decade are those fully focused like PSO, MH & FFXII, it would be cool to see a game fire on all cylinders and be playable both offline and online. All western rpgs has been offline only which is a big mystery for me). Level 5 and the main FF team are the teams that will show us what next gen jrpgs can and should be.

Posted my feelings earlier but here ya go for dedicated thread:
Level 5 plays to the criterias I value the strongest. Seamless expansive worlds with incredible visuals running without a hitch, adaptive real time combat functional both in sp/mp, combat with non-comparable visual feedback. Level 5 games & FFXII were the best last gen, they got it (though the latter needed to load every 100m but the combat was incredible). The only thing lacking so far has been online/mp and I strongly hope that's the secret element here as it would just be perfect (the only console 'rpgs' supporting online this decade are those fully focused like PSO, MH & FFXII, it would be cool to see a game fire on all cylinders and be playable both offline and online. All western rpgs has been offline only which is a big mystery for me). Level 5 and the main FF team are the teams that will show us what next gen jrpgs can and should be.

I think you made the parallel with Resistance 2 and a Diablo raiding gameplay. I can easily see this game being the first JRPG to have an online raid style of gameplay on a next gen box. It makes too much sense with the success of Monster Hunter 3.

Mmm, I really trust level 5 after all their previous work - but I am still a little nervous about this game, but I think that's mostly because they haven't really talked too much about the game mechanics yet other than the skill chaining system (which seems wicked cool, and if they do it right, allows for a LOT of depth) the Action/Turn based combat system that is hard to explain, and the... you know, giant mech like game mechanics (which for some reason scream Jeanne D'arc to me, but that's a good thing).

What I really just worry about is that they are going to leave it at that, and ignore all the opportunity they have set themselves up for - I can see a lot of depth come out of the combat, especially if they take from their previous games (which they seem to be doing so far).

I am REALLY curious about this secret mechanic that really sets it apart from other JRPG's... but the cynic in me has heard that phrase SOO many times that I'm not going to hold my breath.

Posted my feelings earlier but here ya go for dedicated thread:
Level 5 plays to the criterias I value the strongest. Seamless expansive worlds with incredible visuals running without a hitch, adaptive real time combat functional both in sp/mp, combat with non-comparable visual feedback. Level 5 games & FFXII were the best last gen, they got it (though the latter needed to load every 100m but the combat was incredible). The only thing lacking so far has been online/mp and I strongly hope that's the secret element here as it would just be perfect (the only console 'rpgs' supporting online this decade are those fully focused like PSO, MH & FFXII, it would be cool to see a game fire on all cylinders and be playable both offline and online. All western rpgs has been offline only which is a big mystery for me). Level 5 and the main FF team are the teams that will show us what next gen jrpgs can and should be.

Wasn't it mentioned last year that there would be some type of online setup for the game?